MANGREY: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MANGREY
Largest movements
- Receivables within one year -€50,203
down €50,203 (-23.7%), from €211,901 to €161,698
of which Other amounts receivable: -€40,600
- Stocks and contracts +€38,492
up €38,492 (+48.6%), from €79,125 to €117,617
- Cash -€17,114
down €17,114 (-33.8%), from €50,654 to €33,541
mainly Other debts (-€39,150) and Stocks and contracts (-€38,492)
- Tangible fixed assets -€11,575
down €11,575 (-34.1%), from €33,976 to €22,401
of which Furniture and vehicles: -€11,419
- Other debts -€39,150
down €39,150 (-94.7%), from €41,344 to €2,194
- Advances received +€20,726
up €20,726 (+1299.4%), from €1,595 to €22,321
- Trade debts -€18,074
down €18,074 (-32.1%), from €56,228 to €38,154
- Debts after one year -€11,674
down €11,674 (-92.1%), from €12,670 to €996
- Tax, wage and social debts +€4,169
up €4,169 (+10.8%), from €38,729 to €42,898
of which Taxes: +€4,986
- Gross operating margin +€69,172
up €69,172 (+13.7%), from €506,291 to €575,462
- Staff costs +€61,685
up €61,685 (+12.7%), from €486,317 to €548,001
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €413,619 | €371,663 | -€41,956 | -10.1% |
| Fixed assets | 21/28 | €33,976 | €22,401 | -€11,575 | -34.1% |
| Tangible fixed assets | 22/27 | €33,976 | €22,401 | -€11,575 | -34.1% |
| Plant, machinery and equipment | 23 | €156 | €0 | -€156 | -100.0% |
| Furniture and vehicles | 24 | €33,820 | €22,401 | -€11,419 | -33.8% |
| Current assets | 29/58 | €379,643 | €349,262 | -€30,382 | -8.0% |
| Stocks and contracts in progress | 3 | €79,125 | €117,617 | +€38,492 | +48.6% |
| Stocks | 30/36 | €79,125 | €117,617 | +€38,492 | +48.6% |
| Amounts receivable within one year | 40/41 | €211,901 | €161,698 | -€50,203 | -23.7% |
| Trade receivables | 40 | €107,773 | €98,169 | -€9,603 | -8.9% |
| Other amounts receivable | 41 | €104,129 | €63,529 | -€40,600 | -39.0% |
| Current investments | 50/53 | €34,531 | €34,531 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €50,654 | €33,541 | -€17,114 | -33.8% |
| Deferred charges and accrued income | 490/1 | €3,432 | €1,875 | -€1,557 | -45.4% |
| Total equity and liabilities | 10/49 | €413,619 | €371,663 | -€41,956 | -10.1% |
| Equity | 10/15 | €250,439 | €253,373 | +€2,933 | +1.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €231,847 | €234,781 | +€2,933 | +1.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €229,988 | €232,921 | +€2,933 | +1.3% |
| Amounts payable | 17/49 | €163,180 | €118,290 | -€44,889 | -27.5% |
| Amounts payable after more than one year | 17 | €12,670 | €996 | -€11,674 | -92.1% |
| Financial debts | 170/4 | €12,670 | €996 | -€11,674 | -92.1% |
| Amounts payable within one year | 42/48 | €149,082 | €117,295 | -€31,787 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €11,185 | €11,674 | +€489 | +4.4% |
| Financial debts | 43 | €1 | €54 | +€53 | +6491.5% |
| Credit institutions | 430/8 | €1 | €54 | +€53 | +6491.5% |
| Trade debts | 44 | €56,228 | €38,154 | -€18,074 | -32.1% |
| Suppliers | 440/4 | €56,228 | €38,154 | -€18,074 | -32.1% |
| Advances received on contracts in progress | 46 | €1,595 | €22,321 | +€20,726 | +1299.4% |
| Taxes, remuneration and social security | 45 | €38,729 | €42,898 | +€4,169 | +10.8% |
| Taxes | 450/3 | €941 | €5,927 | +€4,986 | +530.0% |
| Remuneration and social security | 454/9 | €37,788 | €36,971 | -€817 | -2.2% |
| Other amounts payable | 47/48 | €41,344 | €2,194 | -€39,150 | -94.7% |
| Accrued charges and deferred income | 492/3 | €1,428 | €0 | -€1,428 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €486,317 | €548,001 | +€61,685 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,582 | €11,575 | -€1,007 | -8.0% |
| Other operating charges | 640/8 | €3,769 | €5,193 | +€1,424 | +37.8% |
| Gross operating margin | 9900 | €506,291 | €575,462 | +€69,172 | +13.7% |
| Operating profit (loss) | 9901 | €3,623 | €10,694 | +€7,070 | +195.1% |
| Financial income | 75/76B | €2,582 | €324 | -€2,258 | -87.5% |
| Recurring financial income | 75 | €2,582 | €324 | -€2,258 | -87.5% |
| Financial charges | 65/66B | €3,689 | €2,137 | -€1,552 | -42.1% |
| Recurring financial charges | 65 | €3,689 | €2,137 | -€1,552 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | €2,516 | €8,880 | +€6,364 | +252.9% |
| Income taxes | 67/77 | €948 | €5,947 | +€4,999 | +527.0% |
| Profit (loss) for the period | 9904 | €1,568 | €2,933 | +€1,365 | +87.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,568 | €2,933 | +€1,365 | +87.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.